In this chapter we revisit the relationship between income and fertility. There is overwhelming empirical evidence that … fertility is negatively related to income in most countries at most times. Several theories have been proposed in the literature …

failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … transfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic inefficiency in …

The Barro-Becker model is a simple intuitive model of fertility choice. In its original formulation, however, it has … not been very successful at reproducing the changes in fertility choice in response to decreased mortality and increased … intertemporal elasticity of substitution (IES) typically assumed in the fertility literature. We show that, not only is this …

Economic demographers have long analyzed fertility cycles. This paper builds a foundation for these cycles in a model … of fertility choice with dynastic altruism and aggregate shocks. It is shown that under reasonable parameter values …, fertility is pro-cyclical and that, following a shock, fertility continues to cycle endogenously as subsequent cohorts enter …